, of course. World events and intellectual developments over the past two decades have heightened interest in Schumpeter … and all walks of life have discovered Schumpeter and think that his ideas can help them understand the world they live in. …

of financial control, the amount of resources invested, and on a random event. The relationship between money and …

A game theoretic approach to the theory of money and financial institution is given utilizing both the strategic and … used to calculate several cooperative forms that differ from each other in their utilization of money and credit and their … the extreme structures the concept of "enough money" can be defined usefully, and for large economies the games obtained …

Fiat money(1) is a creation of both the state and society. Its value is supported by expectations which are conditioned … weather. However, money and the financial institutions and instruments of a modern economy provide the means to influence … expectations and bound behavior.(2) Paper money emerges as a virtual commodity. The dynamics of the economy permits it to serve as …

We consider a two-period model with missing assets and missing market links, in which money plays a central role and is … inside money, then monetary equilibrium (ME) exists and money has positive value. The nonexistence of GEI (of the underlying …

market clearing (i.e., perfect competition with flexible prices) throughout. But because of the important role money plays …

valuation of money, and a golden rule equilibrium in which the rate of interest is equal to population growth (independent of …

bureaucracy and enforcement of the legal system endogenously. In particular we consider money systems as constructs to make agents … strategic market games representing government-issued fiat money and ideal commodity money as two cases. We endogenize the … provision of money and rules for its use as productive activities within the society, and consider the problem of transition …